MasTec (NYSE:MTZ) Issues FY 2024 Earnings Guidance

MasTec (NYSE:MTZ) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 2.950-2.950 for the period, compared to the consensus earnings per share estimate of 2.690. The company issued revenue guidance of $12.6 billion-$12.6 billion, compared to the consensus revenue estimate of $12.5 billion. MasTec also updated its Q2 2024 guidance to 0.880-0.880 EPS.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Truist Financial reissued a hold rating and issued a $109.00 price target (up from $96.00) on shares of MasTec in a research note on Monday. The Goldman Sachs Group boosted their price objective on MasTec from $54.00 to $61.00 and gave the stock a neutral rating in a research note on Friday, February 9th. DA Davidson reiterated a buy rating and issued a $70.00 price target on shares of MasTec in a report on Monday, March 4th. UBS Group boosted their price objective on shares of MasTec from $89.00 to $92.00 and gave the stock a buy rating in a research note on Friday, February 2nd. Finally, Robert W. Baird upped their target price on MasTec from $89.00 to $110.00 and gave the company a neutral rating in a research report on Monday. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $107.23.

MasTec Stock Up 4.0 %

MasTec stock traded up $4.12 during trading on Monday, reaching $105.92. 891,446 shares of the company’s stock were exchanged, compared to its average volume of 925,178. The company’s 50-day moving average is $87.95 and its two-hundred day moving average is $73.09. The firm has a market cap of $8.42 billion, a price-to-earnings ratio of -757.57 and a beta of 1.61. MasTec has a 52-week low of $44.65 and a 52-week high of $123.33. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.27 and a current ratio of 1.31.

MasTec (NYSE:MTZ) last issued its quarterly earnings results on Thursday, February 29th. The construction company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.20. MasTec had a negative net margin of 0.09% and a positive return on equity of 6.19%. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.26 billion. On average, analysts predict that MasTec will post 2.33 earnings per share for the current year.

MasTec Company Profile

MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, utility, and other infrastructure primarily in the United States and Canada. It operates through five segments: Communications, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other.